Styrene Monomer Weekly Report 25 August 2018

Weekly Price Trend: 20-08-2018 to 24-08-2018

If we take a quick look at the above given weekly prices, it can be observed that for the current week prices of Styrene Monomer have remained volatile at Kandla while at Mumbai ports prices have remained firm and at the end of the week prices were assessed Rs.104.5/Kg for bulk quantity at Kandla and Rs 105/kg for Mumbai ports of India.

Total import at various ports of India July, 2018

Above graph represents the total imported Quantity of Styrene Monomer for the month of July, 2018. Last month total imports were around 110472MT. In the month of July at Kandla port imports were higher while at Mangalore port lesser quantity has been imported

Booking Price

INDIA& INTERNATIONAL

• The domestic prices of Styrene were assessed at the level of Rs.104/Kg for ex Kandla and Rs 105/kg Mumbai ports.
• This week International SM prices have remained firm on bearish demand sentiments.
• Presently SM market is moving with soft-to-stable velocity.
• This week prices have remained soft-to-stable on feedstock benzene prices have decreased and weaker demand trends in China.
• This week CFR India prices of SM were evaluated at USD 1465/MT.
• This week oil prices have followed volatile trend. On Thursday oil prices plunged as an swelling trade dispute between the United States and China balanced news of a decline in U.S. commercial crude inventories.
• On Thursday, closing crude values have decreased. WTI on NYME closed at $67.83/bbl. Prices have decreased by $0.03/bbl in compared to last closing prices. While Brent on Inter Continental Exchange decreased by $0.05/bbl in compare to last closing price and was assessed around $74.73/bbl.
• Oil demand is closely linked to economic activity and the trade dispute has already led analysts to trim their forecasts for future energy consumption.But while the outlook for oil demand growth may be moderating, some markets are tight. As per report, this week's report was bullish for crude. Crude stocks drew due to sharply lower crude imports and near-record refinery crude runs.
• Sinopec Jingmen to halt benzene ops for turnaround.
• East China benzene inventories drop to 161,000 tonnes
• This week benzene prices have decreased.
• FOB Korea and CFR China prices of Benzene were evaluated at USD 880/mt and USD 890/mt respectively.

 $1 = Rs. 69.91
 Import Custom Ex. Rate USD/ INR: 71.10

 Export Custom Ex. Rate USD/ INR: 69.40